Positive growth indicator in the overall packaging industry in the recent years is analyzed to be the major factor driving the flexographic printing inks market size. More precisely, escalating flexible packaging business on account of its widespread application spectrum across consumer goods will positively influence the industry size over the projected period. In 2013, the overall flexible packaging market size was roughly over 18 million tons and shall reach 26 million tons by 2024, with growth close to 4% between 2016 and 2024.

Packaging is the major important marketing tool which substantially stimulates the purchasing conclusion of the customer. It increases the aesthetic appearance, offers product differentiation and also help the company in creating their brand image. Packaging is widely used in It is widely used in foods & beverages, cosmetics, pharmaceuticals and personal care products. In addition, strong growth in these aforementioned industries, particularly due to improved consumer spending will ultimately boost the overall flexographic printing inks market size in the coming years.

Flexographic Printing Inks Market, By Product

Water-based flexographic printing inks market share led the overall industry in 2015. Water-based inks are chiefly used in printing applications including paper printing, newspaper printing and cardboard printing. Increasing non-volatile organic compound-based inks demand in the printing business is analyzed to be the major factor propelling the industry size for the product segment in the coming years. In addition, favoring government norms towards low VOC product along with low cost and abundant availability of water (as a solvent) will further complement the business growth in the near future.

Solvent-based flexographic printing inks market size in 2015 was more than USD 1.5 billion. These inks provide high durability and are compatible with a large variety of substrates. In addition, resultant prints from these inks are provides scratch resistance and superior printing rate characteristics. These value-added product characteristics makes these inks preferred across packaging applications. However, stern regulations laid by authorities including the FDA and EPA towards VOC contents and emissions may hamper growth for the product, particularly across food and cosmetic packaging. UC cured flexographic printing inks market share is likely to expand at highest growth rate of more than 6% between 2016 and 2024. Additionally, UV-cured ink provides various traits such as superior chemical resistance, color consistency, rub resistance and gloss.

Flexographic Printing Inks Market, By Application

The overall flexographic printing inks market share for packaging applications led the overall industry in 2015. The packaging application includes printing on several products such as flexible packaging, tags & labels, corrugated containers, folding cartons and metal cans. Strong flexible packaging industry growth on account of escalating end-user industries such as food & beverage, pharmaceutical and cosmetics will subsequently boost the global business share in the coming years.

Flexible packaging is the major classification of the packaging applications in the industry, it is majorly used in food & beverages, pharmaceuticals and retail non-food products. It demonstrates superior and value added characteristics including sealing, strength, aroma retention and barrier against moisture. Furthermore, it also plays a role in improving exterior aesthetics, product differentiation & identification and easy of understanding basic product features (ingredients and direction of use)

Flexographic Printing Inks Market, By Region

Asia Pacific led the overall flexographic printing inks market share and accounted for more than 35% of the overall volume in 2015. Changing consumer lifestyle dynamics has significantly propelled the major end-user industries such as cosmetics, pharmaceuticals and food & beverage. These abovementioned industries necessarily require the product for packaging applications in order to gather customer attention by making the product look attractive. In addition, increasing spending power of middle class population in China and India will stimulate the regional industry size over the estimated timeframe.

Europe is forecast to experience steady gains more than 4.5% CAGR by 2024. Prevalence of strong cosmetic manufacturing and consumption in the European countries including France and Germany is the major factor contributing the flexographic printing inks market share in the region. North America, mainly led by the U.S. is another prominent flexographic market share contributor. The region accounts maximum in the global package food industry, which subsequently propels the product demand in the region.

At present, industry players are involved in new product development to expand their consumer base and capturing industry share. Also, key industry share contributors are focusing on manufacturing and promoting eco-friendly products and also abides by government regulations towards VOC.

Flexographic Printing Inks Industry Background

Flexographic printing is the major printing technique used in flexible packaging business. The technique gained enormous popularity owing to its associated characteristics such as compatibility with many substrates. These inks are majorly used in the end-user industries such as food & beverage, cosmetics and pharmaceuticals. Asia Pacific accounted for the major industry share chunk in 2015 on account of strong with in these industries.

The product offers high drying characteristics, which offers improved printing rate. It is also appropriate for high-speed printing process owing to its tendency to firmly follow the printing surface. However, these inks carry volatile organic compounds (VOCs) and are thus stringently governed by legislations laid by FDA for packaging applications across food, beverage and cosmetics. This trend may hamper the overall flexographic printing inks market share over the estimated timeframe.

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What was the historic market data from 2012 to 2015, what is the industry growth forecast from 2016 to 2024?